BlueMountain, Longtime Valeant Holder, Says It Exits a Drugmaker

  • Hedge fund sold stake after pricing, distribution scrutiny
  • Firm owned shares worth $112 million in Valeant as of June

BlueMountain Capital Management, a longtime holder in Valeant Pharmaceuticals International Inc., told investors in a third-quarter letter that it exited its position in a pharmaceutical company after the shares plummeted and House Democrats sought to subpoena it over high drug prices.

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